Rudy puts 500.00 into an account to use for school expenses. The account earns 11% interest, compounded quarterly. How much will be in the account after 4 years?

Soluzione

Soluzione

Amount : 771.75

Fasi della soluzione

Translate the problem into an equation:

A = 500 (1 + \frac{0.11}{4})^{4 \cdot 4}

500 (1 + \frac{0.11}{4})^{4 \cdot 4} = 771.75471 \dots

Arrotondare all' hundredth più vicino:

771.75

Amount : 771.75

Esempi popolari

Four times the square root of 1 is less than a number is equal to two more than the number. Find the number.The circonferenza of a circle is 125.6 miles. What is the circle's radius?There are 3 consecutive integers with a sum of 123. What is the value of the greatest integer?The sum of three consecutive even numbers is 90. What are these numbers?Two less than three times a number is eleven.